THQ, the large publisher and developer of such franchises as Saints Row, Metro and Darksiders has officially filed for Chapter 11 bankruptcy today. What that really means is that they will be selling off assets like their 4 current studios and games in development. Expect rival publishers EA and Activision to show immediate interest.
THQ fought Nasdaq delisting back in July and has generally not been a major player in the AAA gaming market. With indie gaming growing and THQ’s franchises not being able to compete with similar franchises from rival publishers, they have been relegated to the back of the pack. With names like Metro: Last Light and South Park: The Stick of Truth announced and coming soon, THQ still has a chance at bouncing back.
After years of frequent delays with titles and mediocre sales, this move was not exactly shocking. THQ recently teamed up with Humble Bundle Inc in order to raise up some immediate capital and show some interest in previous franchises. The move was largely considered a success with roughly $5million in sales. Unfortunately, it appears to have proven too little too late.
Check out THQ’s official announcement here